LONDON--(BUSINESS WIRE)--The global spare parts logistics market is poised to grow by USD 23.64 billion during 2020-2024, progressing at a CAGR of about 7% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Spare Parts Logistics Market Analysis Report by End-user (Automotive, Electronics, Industrial, Aerospace, and Others), Geography (North America, APAC, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the increase in electronic components trade between India and China. In addition, the enhancement of operational efficiency with Industry 4.0 is anticipated to boost the growth of the spare parts logistics market.
The high population density and the presence of a sizeable middle-class population in countries such as China and India are the key drivers fueling the demand for consumable products. In 2017, India increased the import duty on certain product categories imported from China. However, the trade of product categories such as electronic items, electrical machinery, and electronic components is continuously increasing between the two countries. This is increasing the demand for spare parts logistics in APAC, which is contributing to the growth of the global spare parts logistics market.
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Major Five Spare Parts Logistics Market Companies:
CEVA Logistics AG
CEVA Logistics AG operates its business through segments such as Freight management and Contract logistics. The company offers spare parts logistics services for automotive, energy, healthcare, industrial, and aerospace industries.
Deutsche Bahn AG
Deutsche Bahn AG operates its business through segments such as DB Schenker, DB Regional, DB Arriva, DB Cargo, and Others. The company offers spare parts logistics services through its DB Schenker Logistics Business Unit.
Deutsche Post DHL Group
Deutsche Post DHL Group operates its business through segments such as Post - eCommerce Parcel, Express, Global forwarding, freight, and Supply Chain. The company offers transport, warehousing, and management solutions for spare parts used in the automotive, healthcare, engineering and manufacturing, and energy sectors.
DSV AS operates its business through segments such as Air & Sea, Road, and Solutions. The company offers spare parts logistics services for the automotive industry.
FedEx Corp. operates its business through segments such as FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services. The company offers shipping, transportation, and warehousing solutions for spare parts used in the automotive and electronics industries.
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Spare Parts Logistics Market End-users Outlook (Revenue, USD Billion, 2020-2024)
Spare Parts Logistics Market Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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